Alexion third-quarter revenues dip slightly; company reports $31.9 million net loss

By Lisa Kerner

Charlotte, N.C., Nov. 1 - Alexion Pharmaceuticals, Inc. reported third-quarter revenues of $0.3 million, down slightly from $0.4 million in the prior-year period.

For the quarter ended Sept. 30, the company had a net loss of $31.9 million, or $1.02 per share, compared with a net loss of $36.6 million, or $1.24 per share, for the same period last year.

Operating expenses for the third quarter decreased to $33.3 million from $38.2 million for the third-quarter 2005.

Alexion's research and development expenses for the quarter decreased to $21.2 million from $31.8 million for the prior-year period.

Investment income rose to $1.8 million for the third-quarter 2006 from $1.6 million for the same period last year.

At Sept. 30, Alexion had $143.8 million in cash, cash equivalents and marketable securities, down from the $212.5 million at Dec. 31, 2005.

Company highlights for the period include submission of marketing applications for Soliris (eculizumab) in both the United States and Europe as well as publication of phase 3 Triumph study results in the New England Journal of Medicine.

"We continue to make excellent progress in preparations for the global launch of Soliris," president and chief operating officer David Keiser said in a company news release.

"In particular, in the United States we have attracted proven talent from some of the most successful biopharmaceutical companies, making key hires in important areas including sales; reimbursement and patient access; and marketing."

For the 2006 calendar year, Alexion anticipates a net loss in a range of $115 million to $125 million and research and development expenses of about $70 million to $75 million.

Alexion is a biotechnology company located in Cheshire, Conn.

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